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INCOME FROM HOUSE PROPERTY

Direct Taxation

If it is let out, the income from such property shall be computed as if the property is owned by one owner and thereafter the income so computed shall be apportioned amongst each co-owner as per their specific share. Then will each of members be able to take deduction under sec24

aman kawad

CA Inter

★ 7K+

28-Jun-20 11:35

351

Answers (1)

Yes, proportion of income will be calculated on basis of ownership and deduction under 24 taken proportionately on their income(30% standard),24b for each separately.